Maruti Suzuki partners with Mahindra Finance for easy car finance schemes

The partnership between Maruti Suzuki and Mahindra Finance will support all customer segments - salaried, self-employed, agriculturists and businessmen - to purchase cars amid coronavirus crisis.
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| Updated on: 09 Jun 2020, 05:27 PM
File photo for representational purpose. (REUTERS)
File photo for representational purpose. (REUTERS)

In a bid to shore up sales amid challenging economic environment, Maruti Suzuki has joined hands with Mahindra Finance, one of the leading non-banking finance companies (NBFCs), to ease finance availability for customers looking at personal mobility solutions during ongoing Covid-19 pandemic.

The partnership will support all customers segments -- salaried, self-employed, agriculturists and businessmen -- to purchase cars.

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Maruti Suzuki has a dealer network of over 3,086 showrooms across the country. Mahindra Finance has a network of 1,450 branches and offers several finance schemes.

(Also read: No job, no EMI?: Why car makers are looking at unveiling unique finance offers)

"We believe that demand in rural areas will revive the fastest in the backdrop of a good monsoon expectation and lessen the impact of current pandemic. We are geared up to support and service all customers in these markets," said Mahindra Finance Managing Director Ramesh Iyer.

Maruti Suzuki Executive Director Shashank Srivastava said more than one-third of the company's retail sales come from rural India.

(Also read: Maruti Suzuki partners with ICICI bank for flexible EMI financing schemes)

"We are extremely confident that this alliance with one of India's largest NBFCs will help in increasing easy finance availability to our customers in the current challenging situation arisen due to Covid-19 pandemic. Customers will benefit from the range of offers like buy-now-and-pay-later, step-up EMI, balloon EMI, etc," he said in a statement on Tuesday.

First Published Date: 09 Jun 2020, 03:22 PM IST
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